The total equity funding in Capital Float, the trade name of Zen Lefin Pvt Ltd, is now $107 million.
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Capital Float had also raised debt financing of $130 million from a number of banks including Kotak Mahindra Bank, IDFC Bank, RBL Bank, HDFC Bank and non-banking financial companies (NBFCs) including Reliance Capital, L&T Finance, and Northern Arc Capital.
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Founded in 2013 Co-founded by Gaurav Hinduja and Sashank Rishyasringa Capital Float is an NBFC registered with the Reserve Bank of India (RBI). Capital Float is an online platform that provides working capital finance to SMEs in India through flexible, short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles.
Other start-ups in this lending space include Lendingkart which raised Rs 565 crore in February, Aye Finance and Neogrowth.